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Victoria Gold Announces C$24 Million Investment by Electrum Strategic Opportunities Fund L.P. and Sun Valley Gold LLC

April 21, 2016 - comment
Victoria Gold Announces C$24 Million Investment by Electrum Strategic Opportunities Fund L.P. and Sun Valley Gold LLC

Victoria Gold Corp. (TSX-V: VIT) intends to issue 80,000,000 units in a non-brokered private placement to Electrum Strategic Opportunities Fund L.P. and existing, significant shareholder, Sun Valley Gold LLC. The Units will be issued at a price of C$0.30 per Unit for gross proceeds of C$24,000,000. Electrum has agreed to subscribe for 60,000,000 Units, while Sun Valley has agreed to subscribe for 20,000,000 Units. Upon closing of the private placement, Electrum is expected to own approximately 13.6% of the issued and outstanding shares of the Company while Sun Valley’s ownership of the outstanding common shares of the Company will increase to approximately 18.0%. read more

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